Explain why it is believed that greater pressure is placed on employment and output in response to

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Explain why it is believed that greater pressure is placed on employment and output in response to shifts in aggregate demand under a situation of longterm staggered labor contracts than would be the case under shorter-term, uniform-expiration-date contracts.
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Macroeconomics

ISBN: 978-0138014919

12th edition

Authors: Robert J Gordon

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